Kambi posts financial analysis for Q3 2022
Kambi has recently published their financial report covering the third quarter of the year, with the headline figures showing a decline in revenue and profit.
One of the most important numbers reported in the document was the revenue figure, which was recorded at just under 37 million euros for the quarter, a near 5 million euro drop from the number achieved in the same period the year prior. The same statistic was recorded at a bit over 108 million euros in the first nine months of the year, which was still down compared to the same period in the previous year by about 15%.
Operating profits before interest and taxes were recorded at just shy of 4 million euros, a stark contrast to the near 15 million euro figure observed the year prior. The first three quarters of the year were similarly behind, coming in at 16 million euros in comparison to the previous year’s 50 million.
The EBIT margin was down as well, now sitting at 10%, while the number recorded in the same quarter in 2021 was over 35%. The first nine month results showed a very similar picture, with the current and previous periods’ figures being reported as 15% and 40% respectively.
Lastly, the numeral statistics are wrapped up by the cash flow figures. The company saw the numbers excluding mergers, acquisition and working capital drop down to under 2 million euros, an over 10 million euro drop from about 12 million recorded last year. The nine month period’s statistic is sitting at 7.3 million, down from the prior year’s near 40 million euro cash flow.
Despite all the negative figures, the firm did also record a number of increases, such as a 12% bump in operator turnover. They noted the expansion of their network in key markets such as the United States as one of the other highlights of the quarter. Additionally, the corporation also acquired the developer Shape Games, bolstering their list of subsidiaries.
Typically the third quarter of a year is the most difficult one for companies in our industry, given that various popular leagues and championships end their seasons and prepare for the upcoming year in the period. This year, however, introduced a number of additional challenging circumstances, such as the looming global recession with a number of negative trends that seem to be accelerating. Despite the turbulent operating climate, we still managed to stay resilient and even grow our operator turnover by over 12%. We are pretty certain about our future, as we are in a pretty healthy position right now. As the recession goes into full swing, we are looking for ways to minimize the negative impacts, and maybe even turn them around to positive ones. We are looking forward to ending the year on a higher note.
read a statement at the end of the report.